Worldwide

Putin, Xi launch 'historic' Russian gas pipeline to China

Putin, Xi launch 'historic' Russian gas pipeline to China”

Turk Stream - which will carry Russian gas to Turkey and southeastern Europe - is scheduled to start exports early January, and the controversial Nord Stream 2 pipeline linking Russia with Germany is set for a delayed launch in mid-2020, after the project received its final approval permit from Denmark in November.

The pipeline, which Putin has called "the world's biggest construction project", crowns years of tough negotiations and work in hard conditions.

Chinese President Xi Jinping and his Russian counterpart Vladimir Putin launched the China-Russia east-route natural gas pipeline at an event, which they attended via video-link on Monday.

The Russian part of the pipeline, which started construction on September 1, 2014, links the Kovyktin and Chayandin gas fields in Siberia with the eastern port city of Vladivostok, covering a total distance of almost 4,000 kilometers.

"Russia is not only creating new income streams, but hedging its bets and bolstering its position strategically", said energy analyst Andrew Hill.

The initial phase of the pipeline was built in just five years, after the China National Petroleum Corp signed a deal worth $400 billion with Russian energy giant Gazprom in May 2014.

This is conducive to the realization of a Russia-China trade volume of 200 billion USA dollars in 2024, Putin said. It was Gazprom's biggest contract.

Hailing the five-year toil of construction teams from both countries on the project under extreme weather and the completion on schedule, Putin said Russian Federation will provide 1 trillion cubic meters of natural gas to China in the next 30 years.

"The pipeline route passes through swampy, mountainous, seismically active, permafrost and rocky areas with extreme environmental conditions", a statement on Gazprom's website said.

Work has also been completed on the first road bridge between Russian Federation and China, further linking the two neighbours.

The Power of Siberia launch came amid continued wrangling over Nord Stream 2.

Xi called it "a milestone project for the bilateral energy cooperation".

The €9.5 billion ($10.6-billion) pipeline has faced opposition from countries in eastern and central Europe, the United States and particularly Ukraine because it is likely to increase Europe's dependence on Russian natural gas.

"It will never pay for itself", Krutikhin told AFP.

The Nord Stream 2 pipeline is expected to open within months - as is a third pipeline in the south called TurkStream, which will bring gas from facilities near Anapa, Russia, across the Black Sea to Turkey, making landfall between Istanbul and the Bulgarian border.

The European Commission's push to rewrite the EU's Third Gas Directive is doomed, but Brussels has not withdrawn its proposal because it is preparing a "grand bargain" with Russian Federation, experts told a EURACTIV event on Wednesday (5 September).



Like this

loading...
loading...

Latest


03 December 2019
Steven Gerrard believes Virgil van Dijk deserves to win Ballon d'Or
The Argentine faces stiff competition from his close rival Cristiano Ronaldo and Liverpool's centre-back Virgil van Dijk . Virgil van Dijk should win the 2019 Ballon d'Or, says "Messi's number one fan" Steven Gerrard .

03 December 2019
Patriotism is the theme of Christmas at the White House
Louis' Gateway Arch, the Alamo, the Liberty Bell and the Statue of Liberty, besides the Golden Gate Bridge and the Space Needle. The footage begins with Melania opening one of the doors of a giant advent calendar crafted in the shape of the White House.

02 December 2019
Cyber Monday sales on track to top $9 billion
CNET is updating the hottest deals hourly, as they will change base on supply as the day goes on especially at Amazon . Yahoo Lifestyle Canada is committed to finding you the best products at the best prices.

02 December 2019
At Least 14 Killed in Attack on Burkina Faso Church
Kabore offered his "deepest condolences to the bereaved families and wish a speedy recovery to the wounded". The unrest has ignited ethnic and religious tensions, rendering large parts of the country ungovernable.

02 December 2019
3 takeaways from clutch rivalry win over Virginia Tech
In 2007, Virginia Tech won 33-21 in a season where both teams were nationally ranked - the No. 8 Hokies beat No. 16 Virginia. The history of the series made the crowd cautiously optimistic - like Perkins - until on the Hokies' ensuing possession.

02 December 2019
Ukraine leader says he didn't discuss 'quid pro quo' with Trump
Trump made his point by saying "all you have to do is look at the words of the Ukrainian president". Trump, however, has expressed concern with corruption in Ukraine over the past few weeks.

02 December 2019
Doctor Who returning on New Year's Day
The BBC has also revealed that the Judoon and the Cybermen will also be threatening the Doctor once again in upcoming episodes. Subsequent episodes will air Sundays at 8pm ET/PT beginning January 5 on BBC AMERICA.

02 December 2019
Fiat Chrysler reaches tentative labour deal with UAW
The $9,000 ratification bonus isn't as much as the $11,000 that GM workers got, but it's equal to the money paid to Ford workers. Earlier this month, the union's president, Gary Jones, abruptly resigned in the face of allegations that he misused union funds.

02 December 2019
Fragment of Jesus' manger arrives in Bethlehem
Men rested their foreheads on the relic to receive a blessing in a highly emotive moment many Palestinians have only dreamed of. We are proud that part of the manger is back to Bethlehem because we feel that the soul of God is with us more than before.

02 December 2019
Alanis Morissette announces Jagged Little Pill 25th anniversary tour dates
The pre-sale for the tour begins December 10 and the general sale will start December 13. Now, she has a 25th anniversary "Jagged Little Pill" tour on the way.